Okonjo-Iweala got Nigeria out of debt, but we’re now back there – Amina Mohammed

2 months ago

Deputy Secretary-General of United Nations, Amina Mohammed, has said former Finance Minister, Ngozi Okonjo-Iweala, spent years to get Nigeria out of debt, but lamented that the country was now back to worrying levels of debt.

Amina Mohammed who was Minister of Environment under the Buhari-led administration before moving to the UN in February last year, said this during a session with the Managing Director of the International Monetary Fund (IMF), Christine Lagarde, on Tuesday September 11th.

Mohammed expressed concern over the rising level of debt in Nigeria and the rest of Africa.

”Public resources are always going to be important, and so is ODA and the private sector. But I think we still haven’t yet got quite the solution and I hope that the work that we do together will open up that space to think more on how to leverage that”.

“As I was coming up from New York, some of the concerns that came up from the meeting we had in China just recently and reports that we have; the debt issues are really big, I mean, having experienced what it was for Ngozi (Okonjo-Iweala) to get debt relief”.

“It took her a few years to convince people, and we are now back again in my country, with a level of debt that is worrying, but its happening all over. Africa, is that the way we want to go?

“I think we really need to sit down and have a better conversation about all the asks of a growing economy; that needs to be inclusive, it needs to succeed, because stability is needed more than ever today, across our countries and where we are working” she said